CSPAN2 Key Capitol Hill Hearings October 31, 2015
Get into the question of what policy can do and what the administration has proposed to foster higher savings. And so im going to start with the macro case for higher saving. So, the u. S. Personal saving rate, which is loosely defined as saving net of new borrowing divided by aftertax income has declined markedly over the past several decades. Americans saved 12 of their incomes on average in the 1970s. About nine percent on average in the 1980s, and about seven percent on average in the 1990s. Since 2000, the personal saving rate has averaged just under five percent, which is about where it ...